auxmoney, a Germany-based digital-lending platform for consumer credit in Europe, has secured a EUR 250 million debt financing for its marketplace loans from Citigroup and Chenavari Investment Managers.

Following the announcement by auxmoney to invest in loans on its own marketplace in November 2020, the fintech company is now co-investing for the first time alongside partners as part of this transaction.

Through auxmoney’s investment arm, investors benefit from highly efficient processes including fully automated onboarding, risk assessment and investor reporting.

With the latest iteration of its scorecard, leveraging advances in machine learning, auxmoney facilitates investors’ access to a digital asset class.

Raffael Johnen, CEO of auxmoney said,

“With our investment platform, we are able to set up partnerships at scale, further broadening our base of institutional investors. Today, we are delighted to add another strong set of partners to the auxmoney platform.

 

With this significant investment, auxmoney is able to bring the benefit of digital loans to even more consumers.”

Daniel Drummer, CFO at auxmoney said,

“This funding commitment from one of the leading global debt investors once again proves the appeal of digital lending as an asset class. The investment further strengthens auxmoney’s position as a leading provider of technology-enabled access to credit in Europe.

 

We see enormous momentum for technology-driven credit offerings in the market. Further new partnerships are in the making.”

Featured image: (from left to right) CFO Daniel Drummer, CEO Raffael Johnen, COO Arie Wilder